Construction to Permanent Lending Under the New CFPB Mortgage Rules Webinar

Overview:For many years, construction/permanent lending has been the primary vehicle for construction lending. The "one-time” closing made it easier for the financial institution and easier for the consumer. Unfortunately, the new CFPB rules make construction/permanent lending problematic at best, and impossible at the worst. Construction-only followed by permanent financing (two closings) is the best way to avoid regulatory problems and improve profitability. That is because construction-only and construction/permanent lending have unique features and are treated differently.

Regulation Z has made dramatic changes to the product offering decision through the Dodd-Frank rules. This webinar will focus on the reasons for doing construction-only loans followed by permanent financing, the financial incentives to do so, and the proper approaches to avoid regulatory issues. Since Regulation Z and Dodd-Frank implications have the greatest impact, the majority of the presentation will focus on those issues. However, the webinar will also include material regarding construction loans and RESPA, as well as the income issues from the standpoint of FASB 91.

Highlights:

Construction/permanent loans and Dodd-Frank points and fees impact

Construction/permanent loans and higher-priced mortgage loans

The impact of RESPA on construction loans

The effect on institutional income

The construction-only vs. construction/permanent product decision

TAKE-AWAY TOOLKIT

Employee training log

Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND?This informative session is designed for staff that make product decisions for your financial institution, as well as all personnel involved in the construction-only or construction/permanent loan process.

ABOUT THE PRESENTER – Bill Elliott, CRCM, Young & Associates, Inc.Bill Elliott has over 30 years of banking experience. As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.

Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.

Educational Investment:

Lending Council Members receive 10% discount.

Asset Size

Archive Only

Over $75 million

$159

$25 - $75 million

$139

Under $25 million

$79

Education Scholarship

Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.